A Deep Dive into $EDU, the Token Powering Open Campus Protocol
Find out how to be among the first users to acquire $EDU through Binance Launchpad.
In the few weeks since the announcement of the Open Campus Protocol, we have grown together as a community that is passionate about alternative education and the future realization of Web3 education technology. As a decentralized solution for educators, content creators, parents, and learners, Open Campus was built to overcome hurdles in traditional education, establishing direct connections between those who create unique, high-quality educational content and others who are on their journey of advancing their learning experience.
So far, Open Campus has partnered with major names in the Web3 space — Animoca Brands, TinyTap, The Sandbox, Hooked, GEMS Education, and Highstreet — to onboard users around the world, offering engaging learning experiences that welcome students of all levels. With the support of our launch partners, we have brought together users from different corners of Web3, uniting the entire community through a common vision of true digital ownership.
To that end, Open Campus is thrilled to share details about the protocol’s token, $EDU, which will be released via Binance Launchpad later this month. As a fungible token that powers Open Campus, $EDU will facilitate novel forms of collaboration, provide incentives for best-in-class content creation, and promote the protocol’s long-term growth.
$EDU was designed with educators and learners in mind, and Open Campus aims to be a significant driver in the creation of a robust, inclusive decentralized education system. Read on to find out more about $EDU’s utility and details about its launch.
Details of $EDU:
$EDU enables a range of important functions for users of Open Campus:
- As the payment token for Content Creators to mint education content as Publisher NFTs
- As the payment token for Students and Parents to purchase educational content
- As a reward to Content Creators and Co-publishers representing their revenue share
- As a governance token so that Open Campus is led by the community
- As a token to distribute Grant to support content creators on the development of Educational Content
$EDU Use Case: Publisher NFTs by TinyTap, Open Campus’ First Adopter
Here are some important functions of the $EDU token in the Open Campus Ecosystem:
The $EDU token will be the unit of account in all transactions involving Content Creators, Co-Publishers, Students, and Parents. Education-focused Content Creators can mint their materials as Publisher NFTs by using $EDU, then disseminate them through Open Campus. Those materials can then be purchased on Open Campus’ marketplace by Co-Publishers, again by using $EDU.
Co-Publishers can promote the materials to Parents and Students around the world, with their efforts incentivized via rewards in $EDU. Students can then access the localized materials through Open Campus or third party platforms by purchasing subscriptions using $EDU.
More importantly, $EDU will act as the only governance token for the entire Open Campus Protocol. Users will need to hold $EDU to participate in the Foundation’s governance, make proposals, and vote on various key decisions. For example, an Open Campus community member who holds $EDU can propose to use the Foundation’s $EDU funds to support topics they feel passionate about.
By linking different parts of the ecosystem with $EDU, a flywheel effect encourages more “teacherpreneurs” to own, earn, and create with maximum impact within the Open Campus Protocol.
$EDU’s distribution is as follows:
Binance Launchpad Public Sale
The details of $EDU’s distribution are as follows.
- Sale format: Subscription
- Supported sessions: $BNB only
- Number of tokens for sale: 50,000,000 $EDU
- Total supply: 1,000,000,000 $EDU
- Price per token: US$0.05 (price per token in $BNB will be determined prior to the subscription)
- Maximum allocation per user: US$15,000, or 300,000 $EDU
Vesting information will be released soon.
The subscription timeline will last from April 23, 2023, to April 28, 2023:
- Preparation Period: April 23, 2023, 00:00 (UTC) — April 28, 2023, 00:00 (UTC). During this period, user $BNB balances will be calculated in hourly snapshots for each day over a five-day period. Your final average daily $BNB balance over these five days will determine the maximum amount of $BNB that you can commit later on.
- Subscription Period: April 28, 2023, 06:00 (UTC) — April 28, 2023, 09:00 (UTC). The subscription will open at this time for all eligible users for a three-hour period. Users must also sign the Token Purchase Agreement prior to committing their $BNB. Please note that once committed, your $BNB will be locked and you will not be able to redeem or access any other functions such as transfers, withdrawals, or trading until final token distribution.
- Calculation Period: April 28, 2023, 09:00 (UTC) — April 28, 2023, 10:00 (UTC). The subscription closes and token allocation calculation begins.
- Final Token Distribution: April 28, 2023, 10:00 (UTC). Your final token allocation will be calculated and the corresponding $BNB will be deducted from your locked $BNB amount. Once deducted, your $EDU and $BNB tokens will both be transferred to your spot wallet.
Please note that individuals in the following jurisdictions are restricted from participating in the public sale: Belarus, Cuba, Democratic Republic of Congo, Iran, New Zealand, North Korea, South Sudan, Syria, United States of America and its territories (American Samoa, Guam, Puerto Rico, the Northern Mariana Islands, and the U.S. Virgin Islands), Zimbabwe.
As we approach the date for $EDU’s sale, please keep an eye on Open Campus’ Twitter and Discord for more information about $EDU and the upcoming token sale from Open Campus. To learn more about Open Campus Protocol and the many use cases of $EDU, please read the Open Campus Whitepaper on our Gitbook!
About Open Campus
Open Campus is a community-led protocol for educators, content creators, parents, and students. It puts decisions about learning back into the hands of educators and their students by fostering a collaborative environment, enabling teachers to create materials that appeal to the exact needs of students. Additionally, Open Campus recognizes the achievements of teachers and content creators who help students seek new knowledge, opening new revenue streams for effective educators around the world.
